AGREEMENTS AND TIE-UPS

Indian auto maker Mahindra & Mahindra said it has agreed to increase its voting rights in Scandinavian farm equipment maker Sempo to 49.04% from 35% by acquiring shares and convertible instruments at a cost of 4.66 mln euros, or around Rs 37.74 cr. Sempo, founded...

HCL Technologies has been picked as the services partner for Broadcom’s enterprise software products, one of the two primary business units of CA Technologies, a software and solutions company that the chipmaker acquired earlier this year for $19 billion. HCL Tech will also take over some...

Inox Wind, one of India’s leading wind energy equipment makers, said it will launch turbines with a capacity of 3 million watts (MW) each, 50% more than the typical, large turbine sold in India. The new turbines, to be launched in technical collaboration with US-based...

Voltas, the largest selling AC in India, today launched ‘smart ACs’ in an exclusive tie-up with online retailer Amazon. Users can turn their AC on and off and change the temperature using voice commands like “Alexa, turn on the AC” or “Alexa, set AC to...

Pharmaceuticals maker Lupin said it will distribute US-based Eli Lilly and Co’s Aplevant (dulaglutide), a once-weekly injection for type 2 diabetes treatment. Lupin said it expects to make Aplevant available in India this month itself. The two companies already have a partnership dating back to...

Voltas, the refrigeration company from the Tata Group, announced the launch of the first products from its 50:50 venture with Turkey’s Arçelik. A total of 100 models of home appliances, including refrigerators and washing machines, will be introduced to the Indian market under the Voltas Beko...

ITI Ltd, the government of India concern formerly known as Indian Telephone Industries Ltd, said it has been handed over 6,945 cells sites by state-owned Bharat Sanchar Nigam Ltd or BSNL for management and marketing. “ITI has received an Advance Work Order from BSNL for...

Reliance Jio and State Bank of India today announced further deepening of their financial relationship, including deeper penetration of SBI services into Jio’s customer care app MyJio. “MyJio, one of India’s largest over-the-top (OTT) mobile applications will now bring in financial services capabilities of SBI...

The border between India and Pakistan is seeing a sharp and steady increase in deaths due to firing — including those of militants — in the last three years, Defence ministry numbers revealed. With more than five months to go before the year is through,...

Italian insurer Generali Group said it will increase its stake in Future Generali, its insurance joint venture with Future Group of India, to 49% from 25.5% at present at a cost of 120 mln euros (Rs 960 cr). Future Group is a pioneer in the...

Indian Pharma major Lupin said it has signed an agreement with Japan-based generics maker Nichi-Iko to market its upcoming biosimilar drug, Etanercept, in the far eastern nation. Etanercept, already approved in the US, is used to treat inflammatory conditions. It is pending approval in Japan...

Indian pharmaceutical giant Cipla Ltd said it would sell Eli Lilly and Co’s insulin glargine in India. Insulin glargine is a long-acting basal insulin analogue, given once daily to help control the blood sugar level of those with diabetes. Unlike regular insulin shots — which have to...

India’s largest technology retail chain Reliance Digital said it signed an agreement to sell all Motorola products at its outlets. At present, Motorola is largely an online-focused brand. Motorola, which used to be a big brand in the country in the 1990s and 2000s, lost...

Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into...

Bharti Airtel announced the much-anticipated merger of its tower subsidiary with Indus Towers, a three-way tower venture controlled by Bharti Airtel, Vodafone and Idea Cellular. Indus Towers is currently jointly owned by Bharti Infratel and Vodafone, who own 42% each, Idea Group (11.15%) and Providence...

Fortis Healthcare confirmed a report that the company had availed of a three-year loan of Rs 160 cr, but denied that it was done to avoid bankruptcy. “We wish to confirm that the Company has availed a secured financing facility upto Rs. 160 crore from...

Cyient, formerly known as Infotech Enterprises, said it will form a joint venture with Israel-based BlueBird Aero Systems to manufacture drones for security use in India. The joint venture will be called Cyient Solutions & Systems Private Limited and will have 51% shareholding by Cyient....

Mahindra Defence, part of the Mahindra Group, has been selected as the local partner for Japanese aircraft maker ShinMaywa’s manufacturing and related operations for its US-2 seaplane in India. The amphibious aircraft can be used for both civilian and military purposes and the Indian Navy...

Mahindra Group and Ford Motor Company will jointly develop new SUVs, and a small electric vehicle as part of several initiatives announced today between the two companies. The two companies signed five new memoranda of understanding (MoU) that they said will further strengthen their strategic...

Textile and garments maker Arvind Ltd said it set up a joint venture with global auto-seat specialist Adient to manufacture automotive seat fabrics in India. Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, and will supply materials both to Indian and foreign customers...